March 30, 2012 CONGRESSIONAL RECORD — Extensions of Remarks E517 150TH ANNIVERSARY OR SESQUI- of commerce, culture, and security coopera- cludes some useful provisions, it also elimi- CENTENNIAL OF THE GREAT LO- tion. With President Carter’s signature on April nates crucial investor protections, which would COMOTIVE CHASE 10, 1979, this important and lasting piece of expose the investments of American families legislation became the Law of the Land and and seniors to financial fraud. HON. TOM PRICE served as the statutory basis for U.S.-Taiwan H.R. 3606 attempts to create jobs by mak- OF GEORGIA relations going forward. ing it easier for America’s entrepreneurs to After 33 years, the TRA still stands as a IN THE HOUSE OF REPRESENTATIVES raise startup and growth capital. Unfortunately, model of congressional leadership in the his- this important goal is overshadowed by provi- Friday, March 30, 2012 tory of our foreign relation, and, together with sions in the bill that remove necessary safe- Mr. PRICE of Georgia. Mr. Speaker, I rise the 1982 ‘‘Six Assurances,’’ it remains the cor- guards for everyday investors. This legislation today to ask my colleagues to join me in rec- nerstone of a very mutually beneficial relation- undermines the credibility of research on com- ognizing the 150th anniversary or sesqui- ship between the United States and Taiwan. panies by eliminating conflict-of-interest re- centennial of the . Through three decades marked by momen- strictions. It allows unregulated websites to At 6 a.m. on April 12, 1862, a group of tous social, economic, and political trans- peddle stocks to ordinary investors without Union Raiders under the leadership of James formations, Taiwan has remained a trusted any meaningful oversight or liability, which Andrews captured the General locomotive in ally of the United States that now shares with could give rise to fraud and money laundering. Big Shanty, now Kennesaw, Georgia. As the us the ideals of freedom, democracy and self- Moreover, H.R. 3606 would allow large bank- Andrews Raiders made their move, the pas- determination. The foresight of the TRA’s ing institutions with hundreds of billions of dol- sengers and crew of the General ate breakfast drafters in providing that ‘‘the United States lars in assets to de-register and escape SEC at the Lacy Hotel. The Union spies planned to will make available to Taiwan such defense regulations that ensure corporate trans- travel north to Chattanooga, Tennessee, in an articles and defense services . . . to enable parency, integrity, and accountability. effort to cause damage to the Western & At- Taiwan to maintain a sufficient self-defense When this bill first came before the House lantic Railroad by destroying telegraph wires capability,’’ and affirming ‘‘the preservation for consideration I supported it. It was my and railroad track along the route. This section and enhancement of the human rights of all hope that the Senate would modify H.R. 3606 of rail served as a major supply line for the the people on Taiwan’’ as explicit objectives of to address the concerns raised by the Securi- Confederate forces. the United States, has contributed in large ties and Exchange Commission (SEC), con- During the breakfast stop, Confederate Con- measure to make Taiwan what it is today—a sumer advocates and independent econo- ductor William Fuller saw the General depart vibrant, open society governed by democratic mists. As the New York Times recently put it, northward without him, then he, Jeff Cain, and institutions. passage of H.R. 3606 could result in more Though the people of Taiwan now enjoy Anthony Murphy set off in pursuit of the loco- sales of ‘‘worthless securities by bucket-shop fundamental human rights and civil liberties, motive on foot. Shortly the men borrowed a brokerage firms.’’ SEC Chairwoman Mary they continue to live day after day under the platform car and continued pursuit. Eventually Schapiro wrote a letter to the U.S. Senate ar- ominous shadow cast by over 1400 short and the conductor and his men would board three guing that without appropriate protections, in- medium-range ballistic missiles that the Peo- separate steam locomotives due to the rail- vestors ‘‘will lose confidence in our markets ple’s Republic of China (PRC) has aimed at road tracks sabotaged by the Andrews Raid- and capital formation will ultimately be made them. The PRC persists in claiming Taiwan as ers. These locomotives included , more difficult and expensive.’’ Senate amend- a ‘renegade province,’ refusing to renounce William R. Smith, and lastly the Texas. ments to restore vital consumer investor pro- the use of force to prevent formal de jure inde- The chase ended two miles north of tections did not receive the necessary votes to pendence, even codifying its right to military Ringgold, Georgia, as the Union Raiders ran be included in the bill before us today. As cur- action via passage of the so-called ‘‘Anti-Se- low on fuel leaving the General and heading rently written, H.R. 3606 poses too great a cession Law’’ on March 14, 2005. The United for the woods. The Raiders were captured by threat to the stability of markets and the secu- States Congress strongly condemned the Confederate forces and jailed. Eight of the rity of American’s pension funds, education ‘‘Anti-Secession Law’’ in House Concurrent Raiders including Andrews and Sergeant John savings and retirement accounts to earn my Scott, were hanged. Nineteen of the Union Resolution 98, passed on March 16, 2005. The TRA affirmed that the United States’ support. participants were awarded the Medal of decision to establish diplomatic relations with The United States and its people are still Honor, several posthumously. Eventually this the People’s Republic of China was based on struggling to recover from the near-collapse of adventure became known as the Great Loco- the expectation that the future of Taiwan the country’s financial sector. That crisis was motive Chase and has become the subject of would be determined by peaceful means. Fur- the result of failed oversight and aggressive legend including a Walt Disney movie during thermore, it stipulates that it is the policy of and irresponsible de-regulation during the the 1950s. the United States ‘‘to consider any effort to de- George W. Bush Administration. In the four Mr. Speaker, I ask my colleagues to join me termine the future of Taiwan by other than years since President Obama took office, the in commemorating the 150th anniversary or peaceful means . . . a threat to the peace and Dow Jones Industrial Average has increased sesquicentennial of the Great Locomotive security of the Western Pacific area and of from 7,949 to 13,197 due in large part to his Chase and to wish the citizens of Northwest grave concern to the United States.’’ The un- bold and determined efforts to restore trans- Georgia an educational and productive com- ambiguous and principled stance contained in parency and sensible regulation to Wall Street. memorative event. these provisions has been instrumental to the Congress should not put this remarkable rally f maintenance of peace and stability across the at risk by passing H.R. 3606 and making it more difficult for regulators to detect and pros- TAIWAN RELATIONS ACT Taiwan Strait for more than thirty years, in spite of the growing military threat posed by ecute financial fraud. the PRC. I urge my colleagues to oppose the H.R. HON. MICHAEL T. McCAUL I therefore invite my colleagues to join me in 3606. OF TEXAS commemorating the 33rd anniversary of the f IN THE HOUSE OF REPRESENTATIVES TRA, to further underline our unwavering com- CONCURRENT RESOLUTION ON Friday, March 30, 2012 mitment to the TRA and our support for the THE BUDGET FOR FISCAL YEAR Mr. MCCAUL. Mr. Speaker, I rise to com- strong and deepening relationship between 2013 memorate the 33rd anniversary of the enact- the U.S. and Taiwan. ment of the Taiwan Relations Act. f SPEECH OF Since the end of World War II, the United THE JUMPSTART OUR BUSINESS HON. CHRIS VAN HOLLEN States and Taiwan have fostered a close rela- STARTUPS ACT, H.R. 3606 tionship that has been of enormous strategic OF MARYLAND and economic benefit to both countries. When HON. BETTY McCOLLUM IN THE HOUSE OF REPRESENTATIVES the United States shifted diplomatic relations Thursday, March 29, 2012 OF MINNESOTA from Taiwan to the People’s Republic of China IN THE HOUSE OF REPRESENTATIVES The House in Committee of the Whole in January 1979, Congress moved quickly to Friday, March 30, 2012 House on the state of the Union had under pass the Taiwan Relations Act (TRA) to en- consideration the bill (H. Con. Res. 112) es- sure that the United States would continue its Ms. MCCOLLUM. Mr. Speaker, I rise in op- tablishing the budget for the United States robust engagement with Taiwan in the areas position to H.R. 3606. While this legislation in- Government for fiscal year 2013 and setting

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